Section 44ab

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2014 A Partnership firm involving in manufacturing activity which having turnover bellow 10 Lakhs is to be get its accounts audited under section 44AB which is not opting for section 44AD please clarify

Sir Thanks for your reply about our manafucturing unit we filed our ROI claiming depreciation loss up to Rs. 5 lakhs before 31st july 2014 can we file revised now by getting our accounts audited u/s 44ab pl suggest us for the previous year we get 10 lakhs job works receipts no sales is involve in this year we done only job work

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 October 2014 if you are claiming profit less than 8%, then yes, you need to maintain accounts under 44AA and get it audited under 44AB

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Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2014 Sir Thanks for your reply about our manafucturing unit we filed our ROI claiming depreciation loss up to Rs. 5 lakhs before 31st july 2014 can we file revised now by getting our accounts audited u/s 44ab pl suggest us

for the previous year we get 10 lakhs job works receipts no sales is involve in this year we done only job work

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